Special package for bicycle industry in India

Prime Minister Dr Manmohan Singh has hinted on a special package for Punjab Industry in the coming budget session. This was revealed by a delegation of industrialists who met the Prime Minister along with CM Parkash Singh Badal and deputy CM Sukhbir Badal Wednesday at New Delhi.

President of All India cycle manufacturers association, Gurmeet Singh Kular said: “The PM indicated that bicycle industry will get a boost in the coming budget. We have asked for abolishing 2.06% central excise duty on bicycles, as the industry already pays 12.36% central excise on the raw material.